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The government has resolved to initiate a crackdown on widespread petrol smuggling.

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1 month ago

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It has been revealed that over 396 billion rupees’ worth of petroleum products are smuggled into the country annually.

Authorities have resolved to initiate a crackdown on illicit gas stations, sources reported. “Sources indicated that a comprehensive plan of additional measures has been developed to combat the smuggling of petroleum products within the country.”

Sources indicate that the Federal Board of Revenue (FBR) has presented recommendations for altering petroleum-related legislation.

Sources indicate a proposal to permit district administrations to seal unlicensed petrol pumps and filling stations.

Furthermore, it has been proposed that districts be authorized to seize machinery and equipment from illegal petrol stations.

Government sources said that a plan for the digitalization of fuel stations nationwide is currently under consideration.

“Sources indicated a proposal to implement SIM-based technology at petrol stations to monitor sales.”

A proposal for the real-time monitoring of fuel stocks at petrol stations has been filed.

“The development of a digital application and GIS mobile application to monitor illegal petrol filling stations has been proposed,” sources indicated.

It has been advised that oil marketing organizations maintain real-time updates on their mobile applications, according to sources.

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Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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